Member Info for NewKOTB

GP,

"NewK what price would you think for a t/o based on half decent results or worse?"

All depends upon if MBO is a contender or not and if we have more than one party involved, results of drill etc so wouldn't like to speculate, leave that to others as atm we have little upon which to base a target other than recent Auctus's risked NAV of 43p and target price of 40p, circa half of that would make sense on half decent drill, without knowing the real value of other pillars or other recent and existing interests in Namibia into account. Any t/o would always need to leave something for the other man !

Still in amazement of yesterday RNS and not in a good way either.

aimo & dyor

Morning All,

Even this morning, we still have this totally illogical managed seller, for me it's either Covalis Capital or Yevgeniy Feld. What's the MO, for me it's to aid a t/o at lowest possible price, by whom is the question and I'm not ruling out a MBO backed by AA being in the picture.

Yesterdays RNS, imo, was designed to collapse the SP with the simple inclusion of the words P&A, although Energean who are the operator in their RNS didn't feel required to include such a term as P&A. Using the term P&A our BoD would have been fully aware of the impact that would have on our SP and boy did it !

Interestingly, Meridian's website has been in 'maintenance mode' from mid July, most unusual. I'm off the opinion that our SP is a direct result of what's happening at Meridian between co-founders AA & YF. Tag oil should not be ignored either in its recent connection with Meridian and Tag Oil plans for accelerated growth through acquisition in the North African region.

Chariot are in a tangled web ever since they were approached recently for t/o and then rebuffed, atm it's us PI's that are the flies stuck in the web with no escape and awaiting our fate.

Half decent drill results next week will see the beginning of the end of Chariot, question is at what price and by whom !

aimo & dyor

We need to reverse the last few sessions and start to build on our new WD deal.

You would have thought the persistent sells over many months would at least ease off after todays bloodbath, but no, whoever it is are still keen to keep the SP depressed.

Not nearly as upbeat as his normal posts .... hummm !!!

Interesting to note SQZ are NOT looking at Norway, but other geographical areas for M&A opportunities that would suit their business model, prefer operator but so long as it "makes money, not in corrupt or war zone" (Chris Cox) it really doesn't matter.

aimo & dyor

ENOG are up atm .....

As for our board using the term P&A in an RNS where as ENOG did NOT, CHAR BoD would have fully known the impact on our SP, so was it by 'design' and thus ensuring a MBO is successful. Who knows, but for one the use, although legitimate, in the term P&A I believe was not required, ENOG thought so too imo.

aimo & dyor

Last time daily RSI on WTI was this low was back in Aug 2021, prior to that, April 2020 the US paper traders took WTI negative, ie lost control of the market.

Https://oilprice.com/Energy/Oil-Prices/Oil-Prices-Fall-3-Without-Real-Change-in-Fundamentals.amp.html

LTT,

No, in short, it uses AVERAGES for BOTH Oil and Gas over 2 consecutive quarters, so try and imagine the state NS players would be in by the time EPL removal ever comes into play, imo it will never be removed as we will never meet the criteria. IT WAS DESIGNED TO BE PERMENANENT, that is until 2030 or even longer !

"EPL will permanently be disapplied if average oil and gas prices are both at or below the ESIM price threshold for 2 consecutive quarters..."

aimo & dyor

10-Sep-24 14:29:07 113.06296 2,500,000 Buy* 111.70 112.10 3m O

So we just completed a $11.2bn deal yet our MCap is currently $5.04bn. Even if you include net debt of ~$4.5bn still only comes to substantially less than the WD deal, unbelievable how the market, or should I say London Stock Market values an O&G company. We need to delist and move the US ASAP.

aimo & dyor

"Let's hope discussion of joining the main market is more substantive than the ambitions of overseas acquisition."

I would rather they exit LSE altogether, relist in US assuming we make an overseas transformational acquisition.

NormaStits,

Thanks, my mistake, I see that now along with production, they could of made it superscript !

JSB1989,

"It looks like Mercuria will be putting in a cash offer in the coming weeks for a bargain. 160-170p maybe?.."

Yep, always been on the agenda since TW deal that lay the groundwork imo, now looking more likely than not given our situation and Serica's own forecast cashflow with payback in possibly 2 years and easily within 3 max.

As I posted before, for net cash circa ~£250m, Mercuria could take us out at circa ~160p

Options open, either we do a deal imminently, or Mercuria WILL take us out, we can not remain in this no mans land.

aimo & dyor

Https://www.serica-energy.com/downloads/presentations/Serica%20-%20HY%202024%20presentation%20FINAL.pdf

No wonder we are down on opening, the bots and uninformed reading this would have made sure with such an pigs ear of RNS.

Revenue HY24 $462 vs HY23 $5452

How could such a glaring error in headline summary actually happen, Serica need to put out a correction RNS, unless this 'error' was by design and not a mistake !

Poor, really poor, Chris you need to get your house in order !!!!

aimo & dyor

From 133p to 108p in less than a week !!!! I know we had Ex-div, but come on, really !!

Sasa,

'Controlling' in the sense Mercuria have absolute say on who is 'allowed' to T/O SQZ.

atb

"North Sea tax regime 'causing irreversib­le damage' to sector ..."

https://www.pressreader.com/uk/the-herald-1130/20240906/282342570206074

Https://www.bbc.co.uk/news/articles/cx2nl19qv85o

"Shots will be fired across the bows of Labour’s flagship "green transition" policy. The country’s second and third biggest unions - Unite and the GMB - are concerned about jobs in the oil and gas industry. The former union claims 30,000 jobs are at risk and is opposed to ending new oil and gas licences in the North Sea without guarantees on alternative employment. The latter union calls for an energy strategy which includes not just nuclear and renewables but "oil and gas production," arguing that "gas remains vital to powering UK manufacturing".

Sources suggest the union would rather pursue their objectives through negotiation rather than open confrontation.But Unite are being very public in raising concerns. Sharon Graham has suggested oil and gas workers at a risk of a similar fate to the miners in the 1980s when many of the country’s pits were closed and communities saw unemployment rise. She said: "Everyone knows we need to do something about the climate crisis."But workers cannot be sacrificed on the altar of net zero. North Sea jobs are on a cliff edge.""